Matthews Real Estate Market Highlights: September 2023
Matthews real estate market in September 2023 saw higher median and average home sale prices year-over-year. At 12 days, the days on market declined to their lowest level since November 2022. Housing inventory decreased compared with the prior month, but months supply was higher than in September 2022 and 2021. New listings decreased both month-over-month and year-over-year. List to sale price ratio, while down, at just under 100% left little room for buyers to negotiate. Sales declined in September compared with the previous month and the previous year.
MATTHEWS HOME SALE PRICES
Average sale price in September 2023 was $533,624, down 2.82% from $549,090 in the previous month of August. September’s average sale price increased 6.75% year-over-year from $499,904. The September 2023 average sale price was at its highest level compared with September 2022 and September 2021. The average sale price in September 2023 was also at its highest level since December 2022.
Median home sale price in September 2023 was $510,000, which was 10.84% lower than $572,000 in August 2023. Year-over-year, median home sale price increased 14.61% from $445,000 in September 2022. The September 2023 median home sale price was at its highest level compared with September 2022 and September 2021. The median sale price in September 2023 was also at its highest level since September 2020.
Price per square foot in September 2023 was $228, up 3.17% from $221 in the previous month of August. Price per square foot was 3.64% higher than $220 in September 2022. September’s price per square foot was at its highest level since before 2021.
DAYS ON MARKET IN MATTHEWS DECLINED TO 12 DAYS
Average days on market in September 2023 were 12 days, declining from 39 days in August 2023 and declining 10 days compared with September 2022. September’s days on market were at their lowest level compared with September 2022 (22 days on market) and September 2021 (11 days on market). Days on market in September 2023 were at their lowest level since November 2022.
MATTHEWS HOUSING INVENTORY DOWN SLIGHTLY MONTH-OVER-MONTH | DOWN YEAR-OVER-YEAR
The number of properties for sale in September 2023 was 140, down 1.41% from 142 properties in August. Inventory was 14.63% lower than the 164 properties for sale in September 2022. September’s inventory was higher than in 2021 when inventory stood at 125 properties for sale. The months supply of inventory was at its highest in September 2023 at 3.78 months compared with September 2022 and 2021.
NEW LISTINGS IN MATTHEWS DOWN YEAR-OVER-YEAR & MONTH-OVER-MONTH
The number of new listings in September 2023 was 51, down 3.77% from the previous month’s 53 new listings. New listings were 12.07% lower than what we saw in September 2022 (58 new listings) and in September 2021 (65 new listings).
Sales declined 11.9% in September 2023 to 37 from 42 in August 2023. Closed sales were also 24.49% lower than in September one year ago. The September 2023 sales were at their lowest level compared with September 2022 (49 sales) and September 2021 (69 sales).
LIST TO SALE PRICE RATIO JUST UNDER 100%
The selling price at 99.81% of list price declined from 101.45% in August and from 100.99% in September one year ago. Nonetheless, Matthews home buyers continue to see little room to negotiate on price in September 2023.
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This Charlotte, North Carolina real estate monthly update for Matthews, NC is provided by Nina Hollander with Coldwell Banker Realty, Greater Charlotte residential real estate expert and Matthews specialist. I’ve been opening doors for Matthews home buyers and sellers for 25 years.
If you’re considering selling or purchasing a home in Matthews or anywhere in the Charlotte metro area, I’d love an opportunity to earn your business, to exceed your expectations, and to show you why experience matters and how: